Audit of MCC’s Fiscal Years 2019 and 2018 Financial Statements
MCC’s New Concurrent Regional Compact Mandate...MCC Advisory Council Regional Presentation...
Transcript of MCC’s New Concurrent Regional Compact Mandate...MCC Advisory Council Regional Presentation...
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MCC’s New Concurrent Regional Compact Mandate
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Regional Compact Context
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Context Initial Engagement Visit Next Steps
MCC’s New Mandate• AGOA & MCA Modernization Act authorizes concurrent
compacts if at least one focused on regional issues;• MCC Board selects 5 current West African partners as eligible; • Process guidelines prepared by MCC staff throughout 2018.
Why Regional Integration Matters• Allows countries to gain access to larger markets;• Supports regional efforts to enhance integration, including
AfCFTA;• Attracts increased private sector investment and strengthens
both intra-regional and global trade ties.
U.S. Government (USG) Context • A valuable new tool to promote trade and investment; • New opportunity for MCC to collaborate with and potentially
partner with other USG agencies;• Assists MCC in leveraging reforms - value-added for all USG.
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Mission Objectives• Identify viable cornerstone projects;• Deepen understanding of regional dynamics;• Communicate core MCC messages and build
relationships to support next steps.
Countries Visited
Key Outcomes
• Short list of potentially promising projects;
• Points of Contact in each government;
• An enhanced understanding of regional dynamics and appetite for reform;
• Engagement with Embassies & donors;
Initial Engagement Visit SummaryFeb-Early March 2019
Cote D’IvoireBeninBurkina FasoGhana
Context Initial Engagement Visit Next Steps
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Features of an ideal 1st regional compact:ü A cross border infrastructure investment ü Policy and institutional reform potential
ü Significant political supportüMeets MCC’s strict investment criteria
Preliminary Findings
Potentially promising cornerstone projects include investments in the Transport and Power sectors.4
Context Initial Engagement Visit Next Steps
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Next Steps
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• Deep dive analysis on the most promising potential cornerstone projects, including an assessment of the economic rationale and potential benefits associated with each project;
• High-level mission to assess political support for the most promising potential projects by early June;
• Concrete recommendations on proposed cornerstone project(s) and country pair(s) and a full strategy for compact development by late summer 2019.
Context Initial Engagement Visit Next Steps
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Reducing Poverty through Economic Growth
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